Table 4-7 Table 4-7 Shows the Demand and Supply Schedules

question 191

Multiple Choice

Table 4-7
Table 4-7 shows the demand and supply schedules for the labor market in the city of Pixley.
-Refer to Table 4-7. If a minimum wage of $11.50 is mandated, there will be a

• A) shortage of 20,000 units of labor.
• B) surplus of 20,000 units of labor.
• C) shortage of 40,000 units of labor.
• D) surplus of 40,000 units of labor.

---

Definitions:

Noncontrolling Interest

A minority stake in a company where the shareholder does not have enough shares to control company decisions, often represented in the equity section of the parent company's balance sheet.

Consolidation

Consolidation involves combining the financial statements of multiple subsidiaries or businesses into a single, aggregated set of financial statements for the parent company.

Consolidated Balance Sheet

A financial statement that combines the assets, liabilities, and equity of a parent company with its subsidiaries.